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Medica SA announces signing of merger agreement with Korian SA

Thursday, 23 Jan 2014 12:27pm EST 

Medica SA:Says with reference to the announcement on Nov. 18, 2013 of an agreement in principle between Korian and Medica contemplating a merger between both companies.Says each of Korian and Medica's respective Boards of Directors have approved the terms of the merger agreement and authorized the signature of the latter by Yann ColĂ©ou, Chief Executive Officer of Korian, and Jacques Bailet, Chairman of Medica.Says the merger agreement has been signed on Jan. 23.Says completion of the merger remains subject to clearance by the AutoritĂ© de la concurrence (French antitrust authority) and approval by extraordinary general meetings of shareholders of Korian and Medica.Says under the terms of the merger agreement, Medica shareholders will receive 10 Korian shares for every 11 Medica shares they own.